“If I liked numbers I would have become an accountant!”

Management often reflects this attitude because they don't fully understand how a few analytical tools can influence profitability and/or the success of their organization. An intermediate understanding of financial statements provides management and executives with the evaluation tools needed to make quick rational decisions that will positively impact their department and organization.

This 2 day course teaches how to use key formulas and ratios in addition to understanding and using the data. This course is conveniently suited for professionals with little or no financial background. Emphasis is placed on what the financial statements mean and how to use this data to make cost-effective decisions.

 

 

WHO SHOULD ATTEND?

• Marketing and Operations Managers
• Non financial management professionals
• Business Entrepreneurs & Owners

 

YOU WILL LEARN:

• how financial statements are prepared and what they mean to YOUR department
• how to evaluate financial performance using insightful up-to-date techniques
• how to make profitable business decisions and conclusions using these financial statements and;
• how to prepare budgets for quick approval

 

SEMINAR OUTLINE:

Self-Assessment

· Assess your knowledge of basic financial concepts

· Refresh your understanding of basic business math

Understanding Financial Statements

· The principles of accounting

· Preparing the Income Statement and Balance Sheet

Evaluating Financial Statements

· The Top-Down© approach to analyzing the income statement

· Using Variance, Vertical and Ratio Analysis to interpret financial performance

· Understanding important non-financial issues

Making Decisions With Financial Information

· Differentiating between fixed and variable costs

· Working with the Contribution Margin Format Income Statement

· Using break-even and "What if" analysis

Budgeting and Profit Planning

· The behavioral implications of budgeting

· The budgeting process

· Preparing the budget income statement

· Getting your budget approved

Additional Information

* Please bring a calculator and, if you can, a copy of your financial report.